And to think that the answer resides on high schoolers that graduate knowing how to reduce a quadratic equation to its bare elements. (Not that I support reductionism.) The robots will come from afar and send the money they collect even farther.

I just was cracking up this fall when reports were coming out “the housing crisis is over, analyssts say….it will bottome out by end of summer next year”. ???? will (guessing) bottom out next year so then, it’s not over.

And those folks got paid for that?

Thank you so much for the link.

In Florida, the situation is still completly flat. The only market moving is the very low prices (under 100K) paid CASH. And yes, you can buy condos in Naples, FL for less than 50K which in 2006/7 moved for 270K. But ANYTHING financed is doomed. There is simply ABSOLUTLY no loans out there. When the buyer is qualified (meaning overqualified with plently of cash down, in the bank, and on his paycheck) and when the unit (condo/townhouse/single house) is qualified (meaning in good shape and appraising between 10 to 20% higher than the purchase price) the neighborhood kicks in, and everything falls apart.

The little known fact is that if there is more than a certain number of properties in default/short sale/forclosure in the building, development or surrounding streets, the loan cannot pass FHA standards. And right now in Florida, except some VERY FEW small pockets, every building, development and neighborhood is by far not meating the minimum FHA standards.

And even the short sales are now falling apart because even when the banks are accepting realistic prices (rare, they prefer keeping properties on their books at inflated values and pushing for foreclosure where they still can carry on the charade by owning the properties at made-up book values), they are now approving the sale on the condition that the seller sign a waiver accepting liablity for the bank loss on the transaction (not the loan only but the transaction, meaning they had all their fees on top of it)

Yep you read right. It is in fact redefining the very meaning of short sale.

The idea is again to be able to mitigate book value losses, thus creating a false appearance of financial health AND to preserve the possibility to go after the seller for whatever they can, once the seller has started to recover.

So long term, (5 years or more) all the people who could be reentering the real estate market, will be one more time on the hook with their banks instead.

I am loocking closely at the behavior of forclosure judges. I would not be surprised to see them soon holding forclosed owners liable for the bank loss.

And if you think that is not possible… Let me tell you about a close friend whose forclosure hearing is scheduled for DECEMBER 24!!! Happy Xmas America.

Oh how much I hate residential real estate agents. As much as I hate so many other things.

What will or can change the school system to revive it since it is dead? I guess only a depression, I mean a severe depression. Except a depression may just unravel the country. Well maybe is better that the country unravels and each part decide the best way to educate their youth.

BTW, education is not going to school. That seems to be what people think education is.

To me that is a new and very bad trend.